IPARK Hyundai Development submits sole bid for Goyang redevelopment project

IPARK Hyundai Development submitted the only bid in the contractor selection tender for the Neunggok Zone 3 redevelopment project in Goyang, Gyeonggi Province, signaling its determination to win the contract. Zone 3 is the last remaining redevelopment site within the Neunggok Renewal Promotion District and a key node in the area's aging residential improvement effort; a contractor is set to be chosen in November.

According to industry sources Friday, IPARK Hyundai Development was the sole company to submit a bid proposal in the contractor selection process for the Neunggok Zone 3 redevelopment project. Three firms — IPARK Hyundai Development, BS Hanyang and Kolon Global — had attended an earlier site briefing, but only IPARK Hyundai Development submitted a final proposal.

The project covers an 89,271-square-meter site in Todang-dong, Deogyang-gu, Goyang, and is currently planned as a complex of 16 buildings rising up to 36 stories above ground with two basement levels, comprising 1,258 units. IPARK Hyundai Development said it plans to work with the redevelopment association to pursue transit-oriented mixed-use development and revisions to the improvement plan, with the aim of expanding the complex to a landmark development of around 2,000 units.

The company's broader goal is to leverage synergies with the adjacent Neunggok Zone 5 project to create a massive "Ipark Brand Town" of roughly 4,000 units across the original downtown area of Goyang.

IPARK Hyundai Development proposed the brand name "Ipark Daegok Centrove" for the complex. The site sits within what the developer calls the "Daegok Station Penta Transit Hub," served by five rail lines — the Gyeongui-Jungang Line at Daegok and Neunggok stations, GTX-A, Subway Line 3, the West Coast Line and the Gyooe Line — giving future residents broad transit access. The area is also expected to benefit from the planned openings of the Goyang-Eunpyeong Line and GTX-F, connections to KTX Haengsin Station, the development of a multimodal transfer center and knowledge-convergence complex at Daegok Station, and the full-scale launch of the Changneung new town project, all of which could position the area as a rising residential hub with direct links to western Seoul.

"IPARK Hyundai Development is a specialized developer that breathes new vitality into cities and enhances the quality of life for residents," a company official said. "We will combine the area's wide-ranging transit network with a forest-town design concept that maximizes the natural environment of Jido Park to deliver a premium landmark development."

Meanwhile, IPARK Hyundai Development has continued to offer distinctive design features aimed at providing residents with a comfortable living environment. Its Iksan Busong Ipark development recently received the grand prize in the residential culture service category at The Herald Business's "Home I Want to Live In 2026" awards.

In the second half of this year, the company has secured a string of construction contracts at key Greater Seoul redevelopment sites, including the Seongnam Taepyeong Zone 3 project (900.3 billion won, $662 million) and the Uijeongbu Jangam Zone 2 project (900.2 billion won).